Superannuation returns jumped during July but retirees are going backwards, with inflation eating into their living standards over the last year.
The latest figures from research house Chant West show that for July the median balanced/growth fund (61-80 per cent growth assets) surged 3.1 per cent, the highest increase since November 2020. And so far in August funds are likely to have grown “between 1 and 1.5 per cent,” said Chant West researcher Mano Mohankumar.
